How much money should you expect to have in the account

Reference no: EM131919419

Problem

If you deposit $500 in a savings account that offers 3 percent interest, compounded annually, and you don't withdraw any money, how much money should you expect to have in the account at the end of three years?

Reference no: EM131919419

Questions Cloud

What expected value of payouts from emergency-only insurance : What is the expected value of payouts from the emergency-only insurance? What is the expected value of payouts from the capped-coverage insurance?

What was the amount of your original deposit : If your savings have been earning an annual interest rate of 2 percent, compounded annually, what was the amount of your original deposit?

How much will you owe at the end of two years : Suppose you run up a debt of $300 on a credit card that charges an annual rate of 12 percent compounded annually. How much will you owe at the end of two years?

Prepare a product by value analysis for following products : Prepare a product by value analysis for the following products and given the position in its life cycle, identify the issues likely to confront the operations.

How much money should you expect to have in the account : If you deposit $500 in a savings account that offers 3 percent interest. How much money should you expect to have in the account at the end of three years?

What annual interest rate should your friend offer you : What annual interest rate should your friend offer you to make you indifferent between these two options?

Explain how new policy will affect the issues you identified : Back Pedal is considering offering helmets for free with a bike rental. Explain how this new policy will affect the issues you identified in part a.

Explain two problems that prevent insurance companies : Identify and explain two problems that prevent insurance companies from offering layoff insurance.

Explain why the is a rational choice for julia : Julia pays $500 for an insurance policy with an expected value of $120. Explain why this is a rational choice for Julia.

User Account

All Pages